Pharmaceutical stock Bioglan Pharma today reported full-year pre-tax profits and turnover rose by two thirds on 1999, boosted by new product acquisitions.
It said it expects another year of strong growth in 2001, in total turnover and product sales, with several launches of generic and other products planned in the UK and elsewhere during the year.
Pre-tax profit rose to £12.5 million sterling, beating the £7 million seen the previous year and the £10 million forecast by analysts. The dividend was raised by 25 per cent to 0.5 pence per share.
Total turnover rose by 66 per cent to £101 million, and product sales rose 43 per cent to £58.5 million. But the company stressed its growth was not all achieved through acquisition.
Organic growth in existing product sales was also impressive at 16 per cent and product sales were up by nearly a half.
AFP